Elon Musk and Jeff Bezos have profound visions for humanity's future in space. Here's how the billionaires' goals compare. - Business Insider

Elon Musk (left) and Jeff Bezos.Lambert/ullstein bild/Getty Images; Alex Wong/Getty Images; Blue Origin; Samantha Lee/Business Insider

• Elon Musk and Jeff Bezos have each spoken at length about their visions for humanity's future in space.
• Musk, the founder of SpaceX, wants to launch people to Mars, establish a self-sustaining city there, and use the red planet as a base from which to further explore the solar system.
• Bezos, meanwhile, talks of using his rocket company, Blue Origin, to put a permanent base on the moon, build up huge space colonies, and eventually have 1 trillion people living and working in space.
• Although these visions are different, they have strong similarities, too.
• Visit Business Insider's homepage for more stories.

Space is a big place, one rich with resources and adventure for the taking. So if you're the imaginative type, leaving Earth offers near-limitless opportunities for humanity's expansion.

Of all the people weighing in on how we'll get to space, what we'll do there, and on what timeline, the voices of two billionaires — Elon Musk and Jeff Bezos — ring the loudest and most often.

Musk, the tech mogul behind Tesla and the founder of SpaceX (a now-$33-billion rocket company), wants to establish a permanent, self-sustaining city on Mars.

Meanwhile, Bezos — the founder and CEO of Amazon — has his own space company, Blue Origin. Its work so far focuses on building a "road to space" with new rockets that could ultimately pave the way for floating colonies.

These two grandiose dreams are markedly different, and their owners occasionally spar about the details. But it's not inconceivable that their two companies will one day work together in space.

Here's what Musk and Bezos have said of their ambitious visions, and how they're different yet also surprisingly similar.

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2019-06-09 09:22:00Z
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Huawei not to be banned in Brazil: vice president - CGTN

Chinese telecom company Huawei will not be banned from operating a fifth-generation (5G) mobile telecoms network in Brazil, Vice President Hamilton Mourao has said.

In an interview published Friday by daily Valor Economico, Brazil's largest financial newspaper, Mourao said the idea of banning Huawei is not being considered by his administration.

"No, not here, not in our government ... We are a country in need of being more digitally integrated. You leave Brasilia, get 50 kilometers away and already there is no cell phone signal," he said.

Mourao confirmed that President Jair Bolsonaro was asked by U.S. President Donald Trump to reject Huawei technology in the development of new mobile phone networks during his visit to the United States in March.

Washington declared last month a national emergency over what it claimed is technological threats, and announced restrictions on the sale and transfer of American technologies to Huawei.

The U.S. government has not produced any hard evidence to support its accusation that Huawei is able to use its network equipment to spy on foreign nations for the Chinese government.

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2019-06-09 04:48:27Z
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Who is to blame for the FCA-Renault deal collapse? - Automotive News Europe

The hunt for a scapegoat for the collapse of the merger talks between Fiat Chrysler Automobiles and Renault is in full cry.

There is furious leaking on all sides: The Italians blame the French, the French blame FCA and the reluctance of Renault’s partner Nissan to bless the deal. A lot of people on both sides blame Bruno Le Maire, Emmanuel Macron’s finance minister, whose eleventh-hour request for more time to bring Nissan on board was the final straw for FCA.

While it’s too simplistic to lay all of the culpability at the feet of Le Maire and Macron (did FCA really think it could stitch together a huge, politically sensitive cross-border car deal in just 15 days?), it has become worryingly common for overconfident Parisian technocrats to slip up on problems of their own making. There are lessons here for Macron when it comes to handling France’s web of government holdings, including its 15 percent ownership of Renault.

For a start, French politicians would do better to align their rhetoric with reality. Promising to fight for every industrial job in France, as Le Maire has done, is a great message for voters, but in the confines of a boardroom, or a shareholder meeting, it’s hard to back up such talk with only a 10 or 15 percent equity stake.

Macron himself acknowledged back in 2016 the limits of the state in stopping management from taking decisions: “It's not because [the government] has 20 percent of the voting rights that it can stop closures.” He’s less upfront these days.

Beyond the French blunders over the Renault-Nissan alliance and now FCA – both examples of Paris overplaying its hand when seeking to exercise control – there’s also deeper confusion over what purpose state investment actually serves. There are too many competing strategies at work across too many state-backed firms (France has 1,800 of them!), from building national champions, to protecting jobs, to blocking foreign takeovers.

Low returns

This does nothing for the performance of these companies: The return on equity of most French state holdings averaged 2.8 percent between 2010 and 2015, versus 10 percent for the SBF 120 index of the country’s most actively traded stocks, according to France’s national audit body.

Nor has state intervention done much to avoid the blight of de-industrialization. The share of manufacturing in the French economy fell from 19 percent in 1975 to 10 percent in 2015. There needs to be a rethink on exactly why and when taxpayer funds should be used. Restricting it to companies facing crisis or bankruptcy, or those with technology worth subsidizing, would be one idea.

There also needs to be some faith in management’s ability to just do its job.

It’s true that in this case Renault’s new boss Jean-Dominique Senard may have been too hasty in pushing the Fiat deal. But the state is never far behind in these situations. Look at Carlos Ghosn’s plans for a Renault-Nissan merger, a project reportedly encouraged by Paris, which in part led to his downfall. Too often, an antagonism sets in between the state and management, usually over compensation, strategy or political meddling. 

Government ownership

You’d have to question the very idea of having a state investor. Banker David Azema, who for a time had the job of overseeing the French portfolio of holdings, said in 2017 that it was impossible for the government to be an effective shareholder. The business cycle is completely different to the electoral cycle and the media scrum, he said at the time.

On top of the pressure of politics, and the confusion of goals, French state shareholders are generally too risk averse and prone to procrastination. The Italians will no doubt agree. 

Macron really needs to get back to his eminently sensible 2017 campaign promise: Sell down more French stakes and reinvest in low-carbon technology.

Renault would be a good start, given the size of the holding. Voters might be happy to see Paris reduce its influence there if it meant more cash to spend on job-creating electric car investments. Perhaps it could go hand in hand with a new deal with Nissan, based on a more equitable shareholder split. Until something changes, expect the international finger-pointing to continue.

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June 07, 2019 at 05:50PM

Feds push Infrastructure Bank to back massive Via Rail project - Toronto Star

OTTAWA—Federal officials are pushing the Canadian Infrastructure Bank to back Via Rail’s high-frequency rail project, according to documents tabled in the House of Commons.

The response to a written question from New Democrat Robert Aubin details the eight times between October and December 2018 that officials from the Finance Department met with the financing agency to make the business case for Via Rail.

The rail company wants to build a multibillion-dollar new network of dedicated passenger-rail lines in Ontario and Quebec, so its trains would no longer have to yield to freight trains on borrowed tracks.

The document says that a final phone call on Dec. 11, 2018 focused on the timeline for the infrastructure financing agency to finish its review of a project widely seen as one the bank could back, but which Transport Canada has yet to come to a conclusion on.

The Finance Department noted in its written response to Aubin that a range of public-private models are still being assessed “with varying degrees of private sector investment.”

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Options include having a private partner help with designing and building new tracks — which could be done in phases or all at once — or expand a deal to include financing, operating and maintenance agreements.

The Liberals created the infrastructure agency in 2017, hoping to use $35 billion in federal funding to pry three to four times that much from the private sector to pay for new infrastructure projects that are in the public interest.

In practice, that means projects need to meet federal policy objectives, along with those of the jurisdiction housing a particular project. Projects must also be attractive to the private sector, meaning they need to bring in money to pay off investors.

“Our role is to conduct analysis of options in order to provide commercially confidential advice,” agency CEO Pierre Lavallee said in a statement about the meetings regarding Via Rail.

Of the meetings in the documents, Lavallee said they were “standard practice,” and often involve bouncing ideas off outside auditors.

Lavallee didn’t answer a question about whether any political staffers or ministers had contacted the agency about the project.

So far, the agency has gotten involved in two projects, first through a $1.28-billion loan to an electric rail project in Montreal, and last month with up to $2 billion in debt to expand GO Transit’s rail network around Toronto.

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The agency said in a release last month that its money would “improve the cost of financing and attract private capital” to projects like those.

Transport Canada has been looking over the Via proposal for more than a year, and the Liberals have yet to announce a decision on funding.

The department’s planning report for this fiscal year includes a note to review “revenue and ridership forecasts” as well as the business case — all of which the infrastructure bank looked at late last year — to “provide evidence” on options for government consideration.

Transport Minister Marc Garneau told the Commons earlier this week that the government will make an announcement when it’s made a decision.

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June 07, 2019 at 07:27PM

FedEx Express ditches Amazon in US domestic market - The Daily Memphian

3 Top Energy Stocks to Buy Right Now - Motley Fool

Today's great find in the energy space could be tomorrow's folly. With energy prices constantly shifting -- and the energy landscape itself in flux -- it's tough to know what's going to outperform among energy stocks. 

With that in mind, we approached three of our Motley Fool contributors and asked what energy stocks they think are worth buying right now for investors who don't mind a bit of risk in their portfolio. They chose Tellurian (NASDAQ:TELL), TPI Composites (NASDAQ:TPIC), and Occidental Petroleum (NYSE:OXY). Here's why, despite the risks, they think these stocks could be great investments. 

Some energy industry stocks are riskier than others. Image source: Getty Images.

Loads of potential if things go according to plan

Tyler Crowe (Tellurian): 2019 is going to be the year where we figure out if Tellurian will live up to its promise of being an incredible investment opportunity. The company wants to build a massive liquefied natural gas (LNG) export facility on the U.S. Gulf Coast. It all comes down to some decisions this year that will determine how well investors will do with this still speculative stock.

The fundamental idea for how Tellurian will make money is certainly there. Natural gas production across the U.S. is projected to grow considerably and the price of U.S. gas is well below benchmark prices around the world. In certain shale basins like the Permian Basin, natural gas production far outstrips pipeline and processing capacity to the point that some producers will pay to have it taken away instead of flaring it at the wellhead. With cheap, abundant gas, LNG exporters have an opportunity to make a killing. Tellurian estimates at today's gas prices in the U.S. and abroad, it will generate about $8.55 per share in annual cash flow -- more than what the stock trades for today. 

Tellurian has already received all the permits it needs from regulatory bodies and is now looking to lock down some commercial partners to help pay for the construction of the facility. The company expects to make a final investment decision later this year. There will still be loads of challenges for Tellurian on the way that could make this stock look much less appealing, but if things go according to plan, then investors could be looking at a multibagger.

A high-risk chance to own 25% of the wind market

Rich Smith (TPI Composites): I'm going to admit right at the outset: I'm more than a little bit nervous making this call today. That being said, I'm still going to go out on a limb and recommend wind turbine blade maker TPI Composites as a top energy stock to buy right now -- with "right now" defined as "before 2020."

Why am I nervous, and why might this still be the right call to make? Consider TPI's last quarterly report, which my Fool.com colleague Neha Chemaria ran down for us earlier in May. Sales grew 18% in Q1 2019, and billings were up 25%, indicating continued strong growth in demand for wind power. Management predicted that TPI will double its revenue to $2 billion annually by 2021, and could command as much as 25% market share in turbine blades.

Yet at the same time, a combination of materials shortages, labor strikes in Mexico, and a bankrupt customer caused TPI to miss estimates badly in Q1, leading it to report a $0.35-per-share loss -- and reverse a promised fiscal 2019 profit to predict instead as much as a $0.09-per-share loss.

So where's the opportunity in all this? 2019 is shaping up to be another lousy year for TPI, and the stock's price -- down 18% over the past year to $22 a share -- reflects that. Next year, however, analysts predict TPI will rebound to earn $2.20 per share, which at current prices works out to a P/E ratio of 10. For a stock pegged for a 35% annual growth rate over the next five years, that appears to be a very cheap price.

If, that is, the profits return next year as promised.

Worth a look after a beatdown

John Bromels (Occidental Petroleum): Sometimes it just doesn't seem like the right time to buy a company. And just after a company executed a major deal that left investors and analysts scratching their heads asking, "What were they thinking?" is probably one of those occasions. But in keeping with these higher-risk picks, now might be the time to grab a few shares of Occidental Petroleum. 

Occidental just fended off Chevron in a bidding war to purchase Anadarko Petroleum (NYSE:APC), but it may have been a pyrrhic victory. While Chevron was offering $62 per share for Anadarko -- already a premium to Anadarko's then-price of less than $50 a share -- Occidental came in with a $76-per-share bid, which a lot of people think was too steep a price. In order to make that bid, Occidental had to secure financing from Warren Buffett, and it didn't come cheap. 

Occidental's share price has taken a 25% haircut since April as all this has played out, and investors have signaled they aren't pleased with the deal. But that pummeling has knocked its valuation to just 9.3 times earnings, a 10-year low. It's also boosted its dividend yield to a juicy 6.3%. At this price, Occidental is certainly worth considering.

And it's not like Occidental got nothing in the deal. Anadarko is one of the biggest Permian Basin producers, and with several midstream players working hard on pipelines and export terminals to get Permian oil and gas to market, that big Permian position could pay big dividends for investors who buy in now. But I'll reiterate that this isn't a slam dunk and there's a lot of risk if -- for example -- oil prices enter another sustained slump or promised Permian infrastructure doesn't materialize as planned. 

But right now, even though it looks like it overpaid for Anadarko, Occidental Petroleum may itself be oversold.

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2019-06-08 16:15:00Z
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Someone hit $530 million Mega Millions jackpot. Here's how lottery winners can protect their privacy - CNBC

A Mega Millions player in California has turned a $2 ticket into $530 million.

In the game's Friday night drawing, a single ticket sold in San Diego matched all six winning numbers. And while California isn't a bad place to win — the state does not tax lottery wins — the lucky person (or group of people) won't be able to remain anonymous.

California law requires the name of lottery winners to be made public. Yet experts say that protecting your privacy is one of the most important ways to protect your windfall from scammers and long-lost friends or relatives seeking a handout.

Getty Images

The reduced cash option — which most lottery winners go with — for this jackpot is $345.2 million. Even after the 24% federal tax withholding of $82.8 million, the winner will have about $262.4 million (although additional federal taxes will be due at tax time).

The good news for this winner is that California provides a full year to claim the prize, which means there's plenty of time to plan a claiming strategy. Experts recommend assembling a team of professionals experienced with handling lottery wins and large windfalls — an attorney, an accountant and a financial advisor — to help determine when and how to claim your winnings.

Here are tips for big lottery winners to try maintaining a sense of privacy.

Contain yourself

Your first urge might be to share your exciting news with, well, the world. However, the fewer people who know, the better. This is the case whether you can claim anonymously or not.

"Obviously it may be impossible to keep this from immediate family, but news like this travels quickly," said Jason Kurland, a partner at Rivkin Radler, a law firm in Uniondale, New York. "Try to keep the circle of people who know as small as possible."

Get off the Internet

If you won't be able to remain anonymous when you collect your winnings, shut down your social media accounts in advance, said Kurland, who specializes in helping lottery winners.

"The media will try to find as many pictures of a winner as possible, and social media is the first place to look," Kurland said. "You also want to make sure there's as little personal information out there like your phone number or address."

While any determined snooper or scammer could probably track that information down, you don't want to make it easy for them. If you have a landline phone, make sure it's unlisted before you head to lottery headquarters.

Plan an escape

Consider spending effects

Even in states that let you collect your winnings anonymously, lottery officials might be legally permitted to reveal the town where you live.

"Everyone there will be looking around to see who is spending more, who quit their job, who is taking big vacations," Kurland said. "Winners should enjoy their new-found wealth, but if anonymity is a main concern, it can be a difficult balance to strike."

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2019-06-08 13:24:08Z
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